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Bad Bank(s) and Recapitalization of the Banking Sector

Schäfer, Dorothea; Zimmermann, Klaus F. - Institute for the Study of Labor (IZA) - 2009

-out unit, a so-called bad bank. The key element of the plan is the valuation of troubled assets at their current market value … recapitalize the good bank by taking an equity stake in it. In extreme cases, this would mean a takeover of the bank by the …. A clear emphasis that the government stake is temporary would also be necessary. The government would cover the bad bank …

Persistent link: https://www.econbiz.de/10008632733

Financing Entrepreneurship and the Old-Boy Network

Inci, Eren; Parker, Simon C. - Institute for the Study of Labor (IZA) - 2012

We study entrepreneurs' start-up financing from banks and local financiers. An informal network, whose membership cannot be observed by outsiders, conveys the good signals it gets about the hidden types of network entrepreneurs to local financiers, which are then reflected in different loan...

Persistent link: https://www.econbiz.de/10009646307

Risk Management among the Poor: The Case of Microfinancial Services

Arun, Thankom; Bendig, Mirko - Institute for the Study of Labor (IZA) - 2010

This paper argues that the level of financial services provision determines the risk management strategies among the poor. The paper estimates the determinants of the household’s use of one, two or all three types of microfinancial services applying ordered probit models and additionally...

Persistent link: https://www.econbiz.de/10008564688

Financial Liberalization and the Relationship-Specificity of Exports

Defever, Fabrice; Suedekum, Jens - Institute for the Study of Labor (IZA) - 2013

We investigate the causal impact of equity market liberalizations in the period 1980‐1997 on sectoral export performance across 91 countries. The increased availability of external finance has boosted trade of industries that intensively use relationship‐specific inputs, and lowered exports...

Persistent link: https://www.econbiz.de/10010764593

Pension Investments in Employer Stock

Even, William E.; Macpherson, David A. - Institute for the Study of Labor (IZA) - 2006

This study examines the consequences of a pension fund investing in the stock of the sponsoring firm. Using a merger of data on pension asset holdings from IRS Form 5500 filings and financial data on the company’s stock from CRSP, two broad questions are addressed: First, what factors...

Persistent link: https://www.econbiz.de/10005566649

Does Full Insurance Increase the Demand for Health Care?

Boes, Stefan; Gerfin, Michael - Institute for the Study of Labor (IZA) - 2013

We estimate the causal effect of having full health insurance on health care expenditures. We take advantage of a unique quasi-experimental setup in which deductibles and co-payments were zero in a managed care plan, and non-zero in regular insurance, until a policy change forced all individuals...

Persistent link: https://www.econbiz.de/10010884128

Matching Methods in Practice: Three Examples

Imbens, Guido W. - Institute for the Study of Labor (IZA) - 2014

There is a large theoretical literature on methods for estimating causal effects under unconfoundedness, exogeneity, or selection-on-observables type assumptions using matching or propensity score methods. Much of this literature is highly technical and has not made inroads into empirical...

Persistent link: https://www.econbiz.de/10010884265

More Is Better! What Can Firm-Specific Estimates of the Impact of Institutional Quality on Performance Tell Us?

Bhaumik, Sumon K.; Dimova, Ralitza; Kumbhakar, Subal C.; … - Institute for the Study of Labor (IZA) - 2014

We introduce a novel approach to modeling the impact of institutional quality on firm performance. Our methodology enables us to estimate the marginal effect of institutional quality on TFP, factor inputs and output of each firm, which gives us within-country distributions of these effects and...

Persistent link: https://www.econbiz.de/10010884318

A General Semiparametric Approach to Inference with Marker-Dependent Hazard Rate Models

den Berg, Gerard J. van; Janys, Lena; Mammen, Enno; … - Institute for the Study of Labor (IZA) - 2014

We examine a new general class of hazard rate models for survival data, containing a parametric and a nonparametric component. Both can be a mix of a time effect and (possibly time-dependent) marker or covariate effects. A number of well-known models are special cases. In a counting process...

Persistent link: https://www.econbiz.de/10010886137

Inequality in Total Returns to Work in Ukraine: Taking a Closer Look at Workplace (Dis)amenities

Nizalova, Olena Y. - Institute for the Study of Labor (IZA) - 2014

This paper examines the importance of non-monetary dimensions of work in studies of inequality in total returns to work. Relying on the methodological advances in the field of multidimensional inequality and using the representative sample of Ukrainian industrial establishments over the period...

Persistent link: https://www.econbiz.de/10010888486

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